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Automatic Big Data Marketing Predictive Analytics Solutions for Finance

AuDaScience BRAINs applications help financial institutions to increase responses to their outbound and inbound campaigns by up to 50% while shortening time-to-results of machine learning projects from months to hours.

Banks, insurance companies, credit cards issuers and other financial institutions face the daily challenges of maintaining customers' growth activity and long-term retention. Transformation of banks into financial services "supermarkets" has increased the need for tools to match the most suitable product to each customer.

Most financial institutions use predictive analytics or machine learning tools for their daily marketing operations, but usually miss many cross-sell or churn prediction models. These models require relatively long development and deployment time so ROI until now was not tangible enough. Such institutions run targeted campaigns based mainly on business rules, with very few on statistical models. This leads to a relatively low response rate of the targeted marketing activity. On the other hand, developing, updating and maintaining a large number of machine learning models, especially when developed using R/Python, for a range of products and services requires considerable resources as well as budget.

Sales BRAINs enables the marketing staff to automatically develop and deploy hundreds of "Propensity-to-Action" prediction models Retention BRAINs allows retention managers to automatically develop and execute dozens of churn prediction models. These models analyze products and services, digital actions, customer segments and mini-segments, structured and unstructured data. Hundreds of models can be created in a few clicks, instead of the man-months and years required with other tools available on the market for the same outcome.

Value BRAINs help to strategize and predict the customer lifetime value and how it can be impacted by customer actions such as downloading the bank's app, participating in investment consulting meeting, migrating to a new commissions plan, etc.

AuDaScience patent-pending Multi-Segment-Modeling technology allows designing and deploying propensity models on customer segments rather than on whole populations. Using this technology, AuDaScience customers using Sales BRAINs, Retention BRAINs and Value BRAINs enjoy model lifts of up to 50% higher in comparison to manually-developed models using any data mining tool. This leads to higher response rates in outbound and inbound campaigns, augmented revenues from targeted campaigns and visible ROI after only one or two campaigns.

Profile Builder BRAINs collects data about customers' digital journey on websites or applications in real-time, then automatically continuously builds and updates a comprehensive real time digital profile for each customer or browser. The digital profile, together with DWH data, enables real-time scoring of marketing models (developed automatically using Sales BRAINs) and credit scoring models (developed rapidly using Risk BRAINs) to increase sales, improve customer experience and streamline credit approval decisions.

Using AuDaScience BRAINs applications, marketing staff without any statistical background can develop and launch the most complex cross-sell, digital prediction, churn prediction and LTV prediction models to drive more optimized campaigns. These deliver a sharp rise in response rates to inbound and outbound campaigns and increase the institution's revenue and profit line.

AuDaScience BRAINs applications can be deployed (on premise or cloud) in the company within a few days, deliver 1-to-1 marketing process results with an ROI within only 1-2 months.